With one-quarter of a century until the first of them turn 65, Millennials very much view themselves as "on their own" with regard to retirement income, according to an IRI report.
Tag: Retirement Income
In addition, more than one-quarter of recent retirees say life is worse because of income and cost of living.
Recent college graduates naturally look forward to their first well-paying job—and they often have a lot of ideas about what they will do with their income having nothing to do with paying back student loans or saving for retirement.
Despite the generally positive perceptions of the benefits of guaranteed lifetime income, only one in four survey respondents age 45 and up plan to purchase an annuity.
Survey data covering some 1,000 plan participants shows Roth savings features remain poorly understood and underutilized.
A new analysis from Pershing argues that, while difficult to start, conversations about aging and passing on wealth can be very fruitful for improving client trust and long-term outcomes.
While four out of five employers say they support employees working past age 65, they also understand that an aging workforce has its drawbacks.
Most feel Social Security won't be there, and when asked what type of retirement savings they have, the most common response was none.
A trio of experts from Manning and Napier examine the “new era of DC plan menu design,” arguing encouraging developments are on the horizon.
The researchers conclude that “including well-designed LIA defaults in DC plans yields quite positive consequences for …workers.”
However, the Disability Fund depletion date has improved by five years, through 2028.
FICO's latest consumer finance trend research finds only a third of consumers between ages 38 and 52 are confident they will reach their long-term financial goals.
Effectively managing income taxes over a lifetime requires a careful balance of a person’s current tax burden with the need to achieve tax diversification for the unknown future.
Most older Americans know very little about annuities, but the majority believe a source of guaranteed lifetime income in retirement is important, according to a study by the American College.
Health savings account holders with a DC employer match contributed $1,054 more to their HSAs in 2016 than those with no DC employer match, according to data shared by Fidelity.
Prudential data shows fully 25% of women indicate that they don’t think they’ll ever be able to retire, compared to 14% of men.
Advisers say that parents should still consider their own needs, even when putting a child through college is a priority.
Speakers at the 2017 PLANSPONSOR National Conference said changes may be coming to spur more creative lifetime income products and solutions for retirement plans.
Longevity, lower investment returns, and inadequate savings are contributing to a growing shortfall in what individuals will need for a longer retirement, a report says.
One-quarter of people in the 18 to 29 age bracket are planning on drawing down from Social Security in their retirement.